US Top Rating Updates on 9/20: PYPL, NKE, WDC, HUM and More
Susquehanna Downgrades PayPal on Negative Mix From Braintree
Susquehanna analyst James Friedman downgraded $PayPal(PYPL.US$ to Neutral from Positive with a price target of $100, down from $115. Braintree is quickly gaining share within PayPal's total payment volume, "creating negative leverage from mix," Friedman tells investors in a research note.
Barclays Downgrades Nike on Excess Inventory, Earnings Risk
Barclays analyst Adrienne Yih downgraded $Nike(NKE.US$ to Equal Weight from Overweight with a price target of $110, down from $125. The analyst cites her "bearish" wholesale sector demand risk thesis, continued volatility in China, excess North America inventory bringing heightened operating risk and currency headwinds, primarily in Europe, for the downgrade.
Western Digital Downgraded to Hold From Buy at Deutsche Bank
Deutsche Bank analyst Sidney Ho downgraded $Western Digital(WDC.US$ to Hold from Buy with a price target of $40, down from $56. The company's Q1 revenue is tracking below the low end of its prior guidance and the outlook for Q2 looks "meaningfully below" the current consensus estimates, the analyst tells investors in a research note.
Source: Seeking Alpha, The Fly
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